I was comparing options live prices (current 1min candle, closing price) between tv.upstox.com and that received by websocket connection. Please help me understand which one more closer to real-time prices?
For the closed candles, data is same and all good 
tv.upstox.com live ticks are the most reliable. Especially at Upstox because of tick-by-tick price updates directly loaded from the exchange data.
ok - so i guess websocket is as good as it get to do automated intraday trading. I feel a 5 min candle would practically balance out any jitters between actual price and price on websocket.
Yep! We’re revamping our websocket for much better efficiency and modes. Should be rolling out in a month or two. Not to worry, the current one will not be deprecated very soon.
Great! Look like year end will bring out some extra features for option traders 
Most certainly! Lots to build in this space!